Onramp FundsReviews of onrampfunds.com

Very poor experience. I met the stated requirements, though was given the runaround initially as they said I was ineligible due to how they count sales (they exclude international orders). Okay, fair enough I guess. Come back a month later as sales are growing quickly and I meet the requirements with orders placed in the United States. Next, they arbitrarily and without reason decided to assume I don’t possess the right to sell the works my business does. (I do) Tried to clarify this to a representative, but no dice. So they ask for documentation proving commercial rights. Okay that’s fair. So I provide just them with that. Apparently to them, it’s not adequate despite it being sufficient enough for anyone with an understanding of commercial rights or usage rights. I try to clarify again that I possess the rights, and ask the representative what would be sufficient for Onramp to provide funding as I’m still eager to work with them. Completely ghosted from this point and ignored despite trying to follow up twice. Really disappointed in this (lack of) service as I own a growing business and this would’ve helped me a lot. Don’t understand how both Shopify and PayPal could look at my store and offer capital, however Onramp seemingly can just accuse me of not owning the commercial rights, and then refuse to acknowledge proper documentation when provided it.

There are several reviews here on Trustpilot that allude to Onramp Funds' invasive application process, misleading tiers and requirements, and flip-flopping on credit line amounts. I gave them a try anyway and can confirm many of those issues are real, rather than isolated occurrences. The first red flag is the way they collect your data - instead of using a professional data collection app, Onramp hands you a guide on how to create the app on your store manually. This process doesn't take long, but my particular concern is the perceived lack of security regarding the data provided, and the potential of that data being shared without my knowledge. Most Shopify apps have an option to request data deletion and ostensibly, have some security regarding the sharing of your store data. None of that here. Once your store is connected, Onramp ushers you into providing sensitive personal information very quickly. Within just a few moments, you'll have a bank account connected and a series of emails confirming your approved credit line as shown in the dashboard. A few hours later you'll receive a call from Molly saying Onramp "can't offer you any funds today" due to you having an existing loan, which was disclosed fairly early in the application process and they approved you already knowing this. Next you'll be offered a sign-up with their "partner", Boundless AI which is a white-label platform for third-party lenders to potentially invest in your store. Naturally, this entire process invites a slew of questions regarding the legitimacy of Onramp Funds and the financial products they claim to offer. As another reviewer wrote, it is one thing to decline a loan application, but it is another thing to tell someone they have a 5 figure credit line, set up a payment account with them, and then tell them you can’t work with them at all. I suspect Onramp Funds primary goal is to profit from you either by selling your information or to make a commission off of you. Clearly there is a plan to monetize leads that don't meet their lending requirements, which while in itself isn't a problem, does become an issue when you add the context of Onramp's hidden requirements. If you don't meet their advertised requirements, they offer a three-stage launchpad program with a 33% repayment rate - hardly competitive with Shopify Capital and other options. This is likely their way of prospecting for ecommerce startups that are profitable enough to handle afford the usurious rates of their main program. If you "qualify" for the main program, but have an existing loan with rates that they don't want to compete with, they reject you at the last step. My first experience with Onramp was through their launchpad. I instead took a Shopify Capital loan, grew my sales by 3.5x, and I applied to Onramp again about a month later only to find their main program to be a potentially fictitious. The lack of transparency, invasive data collection and thinly-veiled backend profit funnel make Onramp Funds a difficult business to deal with. I humbly suggest you look elsewhere and avoid the disappointment and time expenditure.

Told me that if I made more than $7500 a month I would be in the core program, I make over 10k a month and they told me I had to be in the launchpad program which has a higher interest rate and payback rate. On top of that they didn't give me a reason other than, it's complicated and the "algorithm" does everything.

Lies. Lies. Lies. Salespeople misrepresent lending criteria. Once they lend, they lock you into an overpriced loan that is impossible to "re-up" even though you meet sales criteria. Another reviewer put it best "They preach 'relationship' BS only to bend and stretch and then eventually turn you down !" In my case, when I complained and pointed out their errors and misrepresentations, they sent me to collections.

Put my small company through the ringer with promise after promise and delay after delay , they preach all this "relationship" BS only to bend and stretch and then eventually turn you down ! Thanks Noah What a joke !

a complete waste of time, something small business owners already have LITTLE of so thought it was important for me to leave this review to prevent others from not only waisting time but MONEY! i applied and was immediately informed i was approved and needed to integrate my shop and give onramp access which i did. then i get an email saying everything is good but i need to have an llc....so again take time and money to get an llc only then to be notified i'm actually NOT approved due to me being located in california which THEY ALREADY KNEW! but gave me the "GREAT NEWS" in there next email message "The great news is we can send you a higher dollar amount of $5,000 to get started! We will need to wait for trailing 30-day sales to reach $7,500 or above." so again i am being led on and actually made sales higher than that in the 30 day period so let them know but oh wait there's another catch they didn't bother to disclose "We pick up net sales, so we do not account for Shipping or discounts." i really don't understand what is the point as another reviewer left to make ppl do all these things without FULL DISCLOSURE initially to prevent small business owners from WAISTING TIME AND MONEY.

Just another Scammer- everything looks good up front then you get in. They don't honor what they tell you. You qualify based on tiers and the first tier is minimal so you can barely purchase enough units to turn over. They do require credit checks even though they advertise not. They request access to both your bank accounts and amazon account. They can see sales but still don't honor their tiers. By the time you mention this to them your sales data changes and you don't qualify for a tier anymore. Really high fees in the grand scheme of things- Not worth the trouble, hassle and sleezy sales pitches. They call you daily until you respond and the email harassment is even worse- multiple times a day- just trying to get their commission.

Worst credit assessment process I've ever seen, they ask for unnecessary documents, make the process difficult and the fee is surreal, can anyone pay these fees?